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The pan-European STOXX 60 index tumbled 1% by 0708 GMT, after beginning the week 1.3% stronger on Monday. All major sectors fell, with utilities and commodity-linked stocks leading declines.China shares dropped 2% weighing on Asian markets

“As most of our growth is based on an asset light model, the management fee incomes, incomes from our old and newly re-imagined businesses like Chambers, home delivery and homestays will help us increase our margin by another 800 bps. At the end of the business cycle, we are expecting the 25% margin in the pre-Covid level to go to 33% plus. ”

​​The company, which had filed preliminary papers with Sebi to raise Rs 8,430 crore through an initial share sale in October last year, is now prepared to settle for a lower valuation of around USD 7-8 billion against the USD 11 billion it was targeting initially, according to people in the know of the development.

The consolidated net revenue of NIIT increased by 35 per cent to Rs 375 crore during the reported quarter from Rs 278.8 crore in the corresponding quarter of 2020-21.For the year ended March 2022, NIIT posted a 58 per cent rise in its consolidated PAT to Rs 226.2 crore from Rs 143 crore in 2020-21.

News agencies on Tuesday reported that the government is going to limit sugar exports, which will help bring down domestic prices but further flame global food prices. Reports said the government may cap sugar exports at 10 million tonnes for the year ending September.

“For FPI flows into Indian equities, we believe the key theme of moving money back from Emerging Market (EM) assets into the US dollar (USD), would continue for some more time as the US Fed works to reduce its balance sheet. After the large selling spree of the last few quarters, FPIs may not necessarily rush back to the market.”

The Nikkei share average erased early gains to close 0.94% lower at 26,748.14, falling from the 27,000 psychological level reclaimed a day earlier. The broader Topix fell 0.86% to 1,878.26.

A total of 29,259 shares changed hands on the counter till 01:24PM (IST).

“Over the next quarter or so, during the summer, I would be cautious about the emerging markets including India, predominantly because of the likelihood of severe liquidity retrenchment from the developed market central banks. When dust settles sometime around August, September or so, we will focus on two or three themes.”

Promoters held 74.05 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 10.08 per cent and 5.65 per cent, respectively.